Dice Holdings makes $50 million acquisition

Thursday, November 7, 2013 3:52 PM

Dice Holdings Inc. announced it has acquired onTargetjobs for $50 million in cash from private equity firm Warburg Pincus LLC. The acquisition includes health care recruiting site HEALTHeCAREERS; Hcareers, a recruiting site for hospitality careers; and BioSpace, an online industry news and careers site for life science professionals.

"This acquisition fits with our expansion strategy and adds the leading vertical recruiting services in healthcare and hospitality to our portfolio," said Michael Durney, president & CEO of Dice Holdings, in a release. A company spokesperson said the acquisition, the company's largest yet in terms of revenue and and employees, will have no direct impact on Dice Holdings' Urbandale operations center.

Dice Holdings purchased the outstanding shares of onTargetjobs for $50 million in cash.The sites generated trailing 12 months revenues of approximately $38 million.Prior to the acquisition, onTargetjobs separated and spun off to its shareholders the previously owned local business known as RegionalHelpWanted.com and certain other assets.

When combined with Dice Holdings’ existing health care recruiting site, Health Callings, HEALTHeCAREERS will have more than 1 million unique visitors monthly and provide access to nearly 1 million health-care-specific resumes, Durney said.

Hcareers will give the Dice Holdings a significant presence in the hospitality market, an industry with high levels of turnover and a strong community orientation.Hcareers is the leading online career site for hotel, restaurant, food service, travel and other hospitality industries.

BioSpace is the leading online community for industry news and careers for life science professionals.

Dice Holdings, which has its headquarters in New York City with an operations center in Urbandale, is a leading provider of specialized websites for professional communities, including technology and engineering, financial services, energy, healthcare, hospitality and security clearance.